UK fintech startup Checkout raises $230m in series A round

London-based fintech startup Checkout secures $230m in its first round which is one of Europe’s largest fintech series A round

Tech startups in the UK are booming. With a vast amount of talent flourishing, it’s no wonder investors are pouring their money into tech companies. Now, Checkout, a London-based digital payments processing startup, has scored one of the biggest series A rounds in Europe.

The startup raised $230m which was co-led by Insight Partners, a software investment company and DST Global, an internet investment company. Apart from it being Checkout’s first funding round, it’s one of the biggest series A rounds in Europe and third globally, according to the startup.

The London-headquartered company intends to use the funding to continue its growth in Europe, the US and the Middle East with further expansion into Asia and Latin America. And according to The Wall Street Journal, the startup is now valued at $2bn, making it a unicorn two times over.

Commenting on the funding round, Guillaume Pousaz, founder of Checkout, said: “ Having built a sustainable business, one hire at a time, it was crucial to find partners that share our vision of how enterprise businesses will consume financial services in the future. We have anticipated this from our early days and have designed Checkout.com’s platform from the outset so that we can easily deliver incremental services to our customers as the company expands its offering.”

Indeed, the time is ripe for fintech startups to grow more. And with clients like Deliveroo and Virgin Media, it’s likely Checkout will continue to cash in.